US headquartered data and analytics consulting company Saxon Global has acquired a majority stake in Bangalore based Ideas Software and Consulting Pvt Ltd (ISAC Global), a boutique Big Data and Web intelligence solutions firm.
Haricharan C M, the Chief Executive Officer of ISAC Global, will join Saxon as Chief Operating Officer, while Sudhir Patavardhan, CTO of ISAC Global, will continue to lead technology development and engineering efforts of Saxon Global, the company said.
The deal is part stock and part cash, Haricharan told NBW. He did not disclose further details of the acquisition.
ISAC Global owns Siteanalytix, a Web analytics platform currently used by clients such as Rediff and Carwale. The company recently launched a Big Data platform for the US Insurance sector, which is in Beta stage.
“Our goal is to move into a non-linear growth model over the next eighteen months, by migrating all our customers to adopt our Platform-based Big Data solution,” said Gopi Kandukuri, Founder and Chief Executive Officer, Saxon Global.
The company has been operational for nearly 4.5 years and has serviced nearly 35 clients, Haricharan added.